Reports the property cycle has peaked is empowering buyers, agent Glenn Curran of McGrath Lindfield told SCHWARTZWILLIAMS.

"There are less buyers out there, less registrations at auction. Buyers are feeling more empowered because the cycle has peaked," he said.

Buyer optimism is reflected in CoreLogic's latest auction statistics.

Sydney's clearance rate was 74.3 per cent last week, outperforming Melbourne for the first time in "some time". The Sydney result was well above the results recorded in the final quarter of 2017.

Curran said he sold one property prior to auction last week, after the property was on the market for only two weeks. The three-bedroom home at 122 Archer Street Roseville sold for $2.188 million.

Curran said volumes are picking up after a quiet December and new year, and he expects volumes to remain solid up until Easter.

Related content: McGrath boosts Sydney's Upper North Shore team

Source: CoreLogic.

Sydney private treaty sales are moving more slowly

REINSW president Leanne Pilkington told SCHWARTZWILLIAMS, "Agents are reporting that whilst clearance rates are strong, prices are stable and buyers of private treaty homes are slower to make a decision.

"All eyes will be on next weeks' results when the market is officially back to full strength after the summer break," she said.

Regional Victoria's auction market outperformed Melbourne

REIV president Richard Simpson told SCHWARTZWILLIAMS that according to the latest REIV data there were 737 auctions on the weekend, and a preliminary clearance rate of 72 per cent recorded.

Both figures were down on the same period last year, when 947 auctions were held and 77 per cent sold, he said.

“Top performing auction suburbs this weekend represented both the premium and affordable ends of the market with clearances rates of more than 80 per cent recorded in both Craigieburn and Malvern East.

“Auction volumes continue to increase further from the city, led by Craigieburn where 17 homes were auctioned this weekend with 14 selling.”

Regional Victoria experienced a stronger clearance rate (83 per cent) than metropolitan Melbourne (70 per cent), said Simpson.

“Regional Victoria’s auction market has started strongly with 58 auctions held this weekend and 83 per cent selling under the hammer, including seven in Geelong West.”

Geelong West sold all of its seven listings under the hammer, as did Glen Waverley and Richmond.

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